‎EigenLayer Eyes Bullish Expansion After Bearish Cycle and Key Level Recovery

EigenLayer Market Analysis – June 2

EigenLayer is showing early signs of a bullish expansion as it reclaims a key demand level and consolidates for a potential breakout toward the $2.130 resistance.

‎EIGENUSD Key Levels 

‎Support Levels: $1.180, $0.330
‎Resistance Levels: $2.130, $3.400

‎EIGENUSD Long-Term Trend: Bearish‎

‎EigenLayer (EIGENUSD) has recently shown signs of recovery following a prolonged bearish trend. The asset peaked in December 2024, after which the market structure shifted sharply bearish. This initiated a series of lower highs and lower lows, eventually driving the price below the critical $1.180 demand zone.
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‎However, after breaching the $1.180 level, price action formed a “failed low” pattern—an early reversal signal—supported by a crossover on the daily moving average. This alignment hinted at a bullish reversal, triggering a strong upside movement that reclaimed the $1.180 zone.
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‎Following the recovery, EIGENUSD entered a consolidation phase, with price action pausing just above the reclaimed level. This sideways movement suggests temporary indecision, but the underlying structure remains bullish. A sustained breakout from this consolidation could trigger a bullish expansion, with the next key resistance level seen at $2.130.

‎EIGENUSD Medium-Term Trend: Ranging

‎On the medium timeframe, ‎EigenLayer is currently ranging. This reflects a tug-of-war between buyers and sellers after a notable bullish rally. The current upward leg within the range aligns with the overall recovery theme, but it does not yet confirm the resumption of a full-scale bullish trend on higher timeframes.
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‎This upward leg is expected to test the previous local high, possibly forming a range-bound top. If price fails to break above this level, consolidation is likely to continue. However, a confirmed breakout beyond the current range could reinforce bullish sentiment and pave the way for further gains in the long term.

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